Nigeria’s GDP rises by 2.01% in Q1 2019 — NBS

The National Bureau of Statistics (NBS), said the nation’s Gross Domestic Product (GDP) grew by 2.01 per cent (year-on-year) in real terms in the first quarter of 2019.

The NBS said this in its “Nigeria GDP Report for First Quarter 2019’’ released on Monday in Abuja.

According to the NBS, the figure is 0.12 per cent higher than the growth rate of 1.89 per cent recorded in the first quarter of 2018.

It, however, said the figure, relative to the fourth quarter 2018, showed a decline by -0.38 per cent points.

According to the bureau, the strong performance recorded in the quarter may be due to general elections held within the first quarter of 2019.

It said the aggregate GDP stood at N31,79 million in nominal terms.

The bureau said the figure was higher than N28,43 million recorded in the first quarter of 2018, representing a year-on-year nominal growth rate of 11.80 per cent.

According to the NBS, the aggregate is, however, lower than the preceding quarter of N35,23 million by -9.75 per cent.

 

 

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